Economics Pretest

The main problem in economics is the problem of ______.

When prices of a product goes up, supply of the product goes up and vice versa.

What type of economic system is categorized by full control by the government?

The ability of people to take risks to develop new products and start business is called ___. 

A list of expenditures and revenues balanced by individuals and governments is called _____.

What type of economic system is categorized by free choice within the market place?

When prices go up, demand for products go down and vice versa. 

What is doing business over the internet called?

What term refers to the activities needed to move goods from producer to consumer? 

What type of economic system does the U.S. actually have?